Effects of external shocks on Russian economy

Show simple item record

dc.contributor Bank of Finland
dc.contributor.author Simola, Heli
dc.date.accessioned 2019-11-01T13:49:34Z
dc.date.available 2019-11-01T13:49:34Z
dc.date.issued 2019
dc.identifier.issn 2342-205X
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/16388
dc.description.abstract Russia is integrated with the global economy through trade and financial linkages, making it vulnerable to external shocks. To gain perspective on the importance of various external factors, we present a brief description of Russia’s foreign economic relations and review the recent literature on the effects of foreign shocks on the Russian economy. We examine the impacts on Russian GDP from oil price, foreign output and interest-rate shocks and Western sanctions, as well as exchange-rate pass-through to Russian consumer price inflation. Our review shows that external shocks are important for Russian economic fluctuations. In quantitative terms, the estimates on long-term impacts of different external shocks vary from 0.1 % to 2 % of Russian GDP.
dc.description.tableofcontents Abstract .. 3 1. Introduction .. 4 2. Transmission channels: Foreign trade and financial markets .. 4 2.1 Foreign trade .. 5 2.2 Financial markets .. 6 3. Estimates on effects of external shocks on Russia .. 8 3.1 Oil price shocks .. 9 3.2 Foreign output shocks .. 9 3.3 Foreign interest rate shocks .. 10 3.4 Sanctions .. 10 3.5 Exchange rate pass-through .. 11 4. Conclusion .. 12 References .. 13
dc.format.extent 18
dc.language.iso ENG
dc.relation.ispartofseries BOFIT Policy Brief
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject Bofit-kokoelma
dc.subject Venäjä
dc.subject.other Russian economy
dc.subject.other oil price
dc.subject.other international shock transmission
dc.title Effects of external shocks on Russian economy
dc.type Paper
dc.identifier.urn URN:NBN:fi:bof-201911011553
dc.series.name BOFIT Policy Brief
dc.series.year 2019
dc.series.number 4/2019
dc.series.sortingnumber 0004
dc.date.publication 1.11.2019
dc.subject.yso öljy
dc.subject.yso hinnat
dc.subject.yso ulkomaankauppa
dc.subject.yso rahoitusmarkkinat
dc.subject.yso pakotteet
dc.subject.yso bruttokansantuote
dc.subject.yso korko
dc.subject.yso valuuttakurssit
dc.subject.yso häiriöt
dc.contributor.orgunit Institute for Economies in Transition (BOFIT)
bof-internal.includedInCRIS 1
dc.type.okm D4

Files in this item

Total number of downloads: Loading...

Files Size Format View
bpb0419.pdf 375.1Kb PDF View/Open

This item appears in the following Collection(s)

Show simple item record